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Derivative Instruments (Tables) | 12 Months Ended
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Dec. 31, 2018
Derivative Instruments [Abstract] |
Schedule of Derivative Instruments [Table Text Block] |
Derivative assets and liabilities relating to the foregoing categories consisted of the following:
|  | Derivative Assets |  | Derivative Liabilities
As at | December 31 | December 31 | December 31 | December 31
millions of Canadian dollars |  | 2018 |  | 2017 |  | 2018 |  | 2017
Cash flow hedges |  |  |  |  |  |  |  |
Power swaps | $ | - | $ | 5 | $ | - | $ | 2
Foreign exchange forwards |  | - |  | 2 |  | 5 |  | 5
|  | - |  | 7 |  | 5 |  | 7
Regulatory deferral |  |  |  |  |  |  |  |
Commodity swaps and forwards |  |  |  |  |  |  |  |
Coal purchases |  | 71 |  | 137 |  | 1 |  | 10
Power purchases |  | 2 |  | 5 |  | 1 |  | 3
Natural gas purchases and sales |  | 2 |  | 6 |  | 4 |  | 7
Heavy fuel oil purchases |  | 1 |  | 15 |  | 1 |  | 4
Foreign exchange forwards |  | 29 |  | 32 |  | - |  | 4
|  | 105 |  | 195 |  | 7 |  | 28
HFT derivatives |  |  |  |  |  |  |  |
Power swaps and physical contracts |  | 62 |  | 125 |  | 76 |  | 162
Natural gas swaps, futures, forwards, physical contracts |  | 125 |  | 105 |  | 403 |  | 294
|  | 187 |  | 230 |  | 479 |  | 456
Other derivatives |  |  |  |  |  |  |  |
Interest rate swap |  | 1 |  | 2 |  | - |  | -
|  | 1 |  | 2 |  | - |  | -
Total gross current derivatives |  | 293 |  | 434 |  | 491 |  | 491
Impact of master netting agreements with intent to settle net or simultaneously |  | (126) |  | (181) |  | (126) |  | (181)
|  | 167 |  | 253 |  | 365 |  | 310
Current |  | 148 |  | 141 |  | 260 |  | 227
Long-term |  | 19 |  | 112 |  | 105 |  | 83
Total derivatives | $ | 167 | $ | 253 | $ | 365 | $ | 310
Derivative assets and liabilities are classified as current or long-term based upon the maturities of the underlying contracts.
Offsetting Liabilities [Table Text Block] |
Details of master netting agreements, shown net on the Consolidated Balance Sheets, are summarized in the following table:
|  | Derivative Assets |  | Derivative Liabilities
As at | December 31 | December 31 | December 31 | December 31
millions of Canadian dollars |  | 2018 |  | 2017 |  | 2018 |  | 2017
Regulatory deferral | $ | 1 | $ | 14 | $ | 1 | $ | 14
HFT derivatives |  | 125 |  | 167 |  | 125 |  | 167
Total impact of master netting agreements withintent to settle net or simultaneously | $ | 126 | $ | 181 | $ | 126 | $ | 181
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] |
For the | Year ended December 31
millions of Canadian dollars |  |  |  |  |  | 2018 |  |  |  |  |  | 2017
|  |  | Interest | Foreign |  |  | Interest | Foreign
Power | rate | exchange | Power | rate | exchange
swaps | swaps | forwards | swaps | swaps | forwards
Realized gain (loss) in non-regulated fuel for generation and purchased power |  | 1 |  | - |  | - |  | 3 |  | - |  | -
Realized gain (loss) in operating revenue – regulated |  | - |  | - |  | 5 |  | - |  | - |  | (10)
Total gains (losses) in Net income | $ | 1 | $ | - | $ | 5 | $ | 3 | $ | - | $ | (10)
As at | December 31
millions of Canadian dollars |  |  |  |  |  | 2018 |  |  |  |  |  | 2017
|  | Interest | Foreign |  | Interest | Foreign
Power | rate | exchange | Power | rate | exchange
swaps | swaps | forwards | swaps | swaps | forwards
Total unrealized gain (loss) in AOCI – effective portion, net of tax | $ | (1) | $ | - | $ | (6) | $ | - | $ | - | $ | (3)
The Company expects $4 million of unrealized losses currently in AOCI to be reclassified into net income within the next twelve months, as the underlying hedged transactions settle.
As at December 31, 2018, the Company had the following notional volumes of outstanding derivatives designated as cash flow hedges that are expected to settle as outlined below:
millions |  | 2019 |  | 2020 |  | 2021
Foreign exchange forwards (USD) sales | $ | 30 | $ | 30 | $ | -
Schedule Of Regulatory Deferred Gain Losses Derivatives [Table Text Block] |
For the | Year ended December 31
millions of Canadian dollars |  |  |  |  |  | 2018 |  |  |  |  |  | 2017
| Commodity swaps and forwards | Physical natural gas purchases and sales | Foreign exchange forwards | Commodity swaps and forwards | Physical natural gas purchases and sales | Foreign exchange forwards
Unrealized gain (loss) in regulatory assets | $ | (34) | $ | - | $ | 4 | $ | (33) | $ | (1) | $ | (4)
Unrealized gain (loss) in regulatory liabilities |  | 29 |  | - |  | 24 |  | 83 |  | 1 |  | (30)
Realized (gain) loss in regulatory liabilities |  | (8) |  | - |  | - |  | (2) |  | - |  | -
Realized (gain) loss in inventory (1) |  | (55) |  | - |  | (18) |  | (17) |  | - |  | (30)
Realized (gain) loss in regulated fuel for generation and purchased power (2) |  | (2) |  | - |  | (9) |  | (3) |  | - |  | (14)
Total change derivative instruments | $ | (70) | $ | - | $ | 1 | $ | 28 | $ | - | $ | (78)
(1) Realized (gains) losses will be recognized in fuel for generation and purchased power when the hedged item is consumed.
(2) Realized (gains) losses on derivative instruments settled and consumed in the period; hedging relationships that have been terminated or the hedged transaction is no longer probable.
Schedule Of Regulatory Commody Swaps Forwards [Table Text Block] |
| 2019 | 2020-2023
millions | Purchases | Purchases
Coal (metric tonnes) | 1 | 1
Natural Gas (Mmbtu) | 16 | -
Heavy fuel oil (bbls) | - | 1
| 2019 | 2020
Foreign exchange contracts (millions of US dollars) | $ | 121 | $ | 111
Weighted average rate |  | 1.1621 |  | 1.3027
% of USD requirements |  | 66% |  | 48%
The Company reassesses foreign exchange forecasted periodically and will enter into additional hedges or unwind existing hedges, as required.
Unrealized Gain (Loss) on Investments [Table Text Block] |
For the | Year ended December 31
millions of Canadian dollars |  | 2018 |  | 2017
Power swaps and physical contracts in non-regulated operating revenues | $ | (12) | $ | 7
Natural gas swaps, forwards, futures and physical contracts in non-regulated operating revenues |  | 205 |  | 401
Natural gas swaps, forwards, futures and physical contracts in non-regulated fuel for generation and purchased power |  | - |  | 10
Power swaps, forwards, futures and physical contracts in non-regulated fuel for generation and purchased power |  | 2 |  | 2
| $ | 195 | $ | 420
Offsetting Liabilities Expected To Settle [Table Text Block] |
millions |  | 2019 |  | 2020 |  | 2021 |  | 2022 |  | 2023
Natural gas purchases (Mmbtu) |  | 308 |  | 108 |  | 71 |  | 50 |  | 41
Natural gas sales (Mmbtu) |  | 247 |  | 42 |  | 9 |  | 2 |  | -
Power purchases (MWh) |  | 6 |  | - |  | - |  | - |  | -
Power sales (MWh) |  | 5 |  | - |  | - |  | - |  | -
Derivative Documentation Unmet [Table Text Block] |
Other Derivatives |  |  |  |
For the |  | Year ended December 31
millions of Canadian dollars | 2018 |  | 2017
| Interest rate | Interest rate
| swaps | swaps
Unrealized gain (loss) in interest expense, net |  | (1) |  | 2
Total gains (losses) in net income | $ | (1) | $ | 2
As at December 31, 2018, the Company had interest rate swaps in place for the $250 million non-revolving term credit facility in Brunswick Pipeline for interest payments through Q1 2019.
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] |
Concentration Risk |  |  |  |  |  |
The Company's concentrations of risk consisted of the following:
As at | December 31, 2018 | December 31, 2017
| millions of Canadian dollars | % of total exposure | millions of Canadian dollars | % of total exposure
Receivables, net |  |  |  |  |  |
Regulated utilities |  |  |  |  |  |
Residential | $ | 384 | 28% | $ | 326 | 23%
Commercial |  | 182 | 13% |  | 161 | 11%
Industrial |  | 57 | 4% |  | 46 | 3%
Other |  | 84 | 6% |  | 96 | 7%
|  | 707 | 51% |  | 629 | 44%
Trading group |  |  |  |  |  |
Credit rating of A- or above |  | 49 | 4% |  | 55 | 4%
Credit rating of BBB- to BBB+ |  | 70 | 5% |  | 61 | 4%
Credit rating of CCC- to CCC+ |  | 8 | 0% |  | - | 0%
Not rated |  | 108 | 8% |  | 96 | 7%
|  | 235 | 17% |  | 212 | 15%
Other accounts receivable |  | 273 | 20% |  | 300 | 22%
|  | 1,215 | 88% |  | 1,141 | 81%
Derivative Instruments (current and long-term) |  |  |  |  |  |
Credit rating of A- or above |  | 130 | 9% |  | 207 | 15%
Credit rating of BBB- to BBB+ |  | 9 | 1% |  | 10 | 1%
Not rated |  | 28 | 2% |  | 36 | 3%
|  | 167 | 12% |  | 253 | 19%
| $ | 1,382 | 100% | $ | 1,394 | 100%
Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block] |
As at | December 31 | December 31
millions of Canadian dollars |  | 2018 |  | 2017
Cash collateral provided to others | $ | 103 | $ | 119
Cash collateral received from others |  | 77 |  | 99

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